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America Doesn't Need A Strong Dollar Policy

 

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March 13, 2013

It’s often taken for granted that America needs a strong dollar.  When the value of the U.S. dollar is strong relative to other currencies, it becomes attractive to investors and allows Americans to buy foreign goods and services cheaply.  But in times of recession, are we better off with a weak dollar that stimulates U.S. manufacturing by making our goods cheaper and more competitive?  Or will the loss of purchasing power and currency manipulation abroad, offset the potential gains?

Moderator

John Donvan, Author & Correspondent, ABC News

For

Frederic Mishkin, Alfred Lerner Professor of Banking and Financial Institutions, Columbia Business School
John Taylor, Chairman and Founder, FX Concepts

Against

Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
James Grant, Editor and Founder, Grant's Interest Rate Observer

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